Short Interest in Cinemark Holdings, Inc. (NYSE:CNK) Declines By 11.8%

Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 21,210,000 shares, a decline of 11.8% from the January 31st total of 24,060,000 shares. Based on an average daily trading volume, of 2,800,000 shares, the days-to-cover ratio is currently 7.6 days. Approximately 19.4% of the shares of the company are short sold.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in CNK. Principal Financial Group Inc. grew its stake in shares of Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after purchasing an additional 99,843 shares during the period. Crossmark Global Holdings Inc. bought a new position in Cinemark during the third quarter worth about $209,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Cinemark during the 3rd quarter worth about $1,960,000. Entropy Technologies LP acquired a new position in shares of Cinemark during the 3rd quarter worth about $893,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Cinemark in the 3rd quarter valued at about $572,000.

Cinemark Trading Down 1.8 %

Shares of NYSE CNK traded down $0.42 during midday trading on Thursday, hitting $23.34. The stock had a trading volume of 2,026,060 shares, compared to its average volume of 3,086,480. The firm has a market cap of $2.85 billion, a P/E ratio of 11.50 and a beta of 2.38. Cinemark has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company’s 50-day simple moving average is $29.33 and its 200 day simple moving average is $29.74.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The firm had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Research analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s payout ratio is presently 15.76%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNK. JPMorgan Chase & Co. decreased their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Wedbush restated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Tuesday, February 18th. Barrington Research reiterated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Macquarie reiterated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.